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Aiello, Inc. had the following inventory in fiscal 2016. The company uses the FIFO method of accounting for inventory.
Beginning Inventory, January 1, 2016: 130 units @ $15.00Purchase 200 units @ $18.00Purchase 50 units @ $13.50Purchase 110 units @ $15.75Ending Inventory, December 31, 2016: 120 units
Problem 1: The company's cost of goods sold for fiscal 2016 is:
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